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Cadila Healthcare extends gains on healthy Q2 numbers

Capital Market / 14:26 , Oct 28, 2009

Cadila Healthcare rose 1.25% to Rs 561.90 at 14:25 IST on BSE, extending gains for the second consecutive day, after consolidated net profit surged 39.04% to Rs 131.92 crore in Q2 September 2009 over Q2 September 2008.

The company announced the results during trading hours on Tuesday, 27 October 2009, when the stock rose 1.58% to Rs 554.95.

Meanwhile, the BSE Sensex was down 116.60 points, or 0.71%, to 16,236.80.

On BSE, 3,921 shares were traded in the counter as against an average daily volume of 32,890 shares in the past one quarter.

The stock hit a high of Rs 565 and a low of Rs 547 so far during the day. The stock had hit a 52-week high of Rs 574.40 on 26 October 2009 and a 52-week low of Rs 222 on 26 November 2008.

The stock has risen nearly 3% in two trading sessions from a recent low of Rs 546.30 on 26 October 2009.

The large-cap stock had outperformed the market over the past one month till 27 October 2009, rising 7.01% as compared to the Sensex's 2.03% fall. It had also outperformed the market in the past one quarter, gaining 38.10% as compared to the Sensex's return of 6.36%.

The company's equity capital is Rs 68.25 crore. Face value per share is Rs 5.

The current price of Rs 561.90 discounts the company's Q2 September 2009 annualized EPS of Rs 36.46, by a PE multiple of 15.41.

Cadila Healthcare's total income increased 27.73% to Rs 1090.95 crore in Q2 September 2009 over Q2 September 2008. On a standalone basis, the company's net profit rose 30.26% to Rs 124.40 crore on 18.39% rise in total income to Rs 655.06 crore in Q2 September 2009 over Q2 September 2008.

Cadila Healthcare had on 16 October 2009 received approval from US Food and Drug Administration (US FDA) for Topiramate capsules in multiple strengths. The drug is the generic version of Ortho McNeil's Topamax capsules. The drug is used for treating migraine headaches in adults. The drug had total sale of $58 million in US market for the 12 month ended June 2009.

The company's operations include pharmaceuticals (human formulations, veterinary formulations and bulk drugs), diagnostics, herbal products, skin care products and over the counter (OTC) products.

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